Indiana § 27-1-33-6 Acting in capacity of MGA with respect to risks; prohibitions; bond;
errors and omissions policy

Indiana Statutes

§ 27-1-33-6 — Acting in capacity of MGA with respect to risks; prohibitions; bond; errors and omissions policy

Indiana § 27-1-33-6

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 33Managing General Agents

This text of Indiana § 27-1-33-6 (Acting in capacity of MGA with respect to risks; prohibitions; bond; errors and omissions policy) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-1-33-6 (2026).

Text

(a)A person, a firm, an association, or a corporation may not act in the capacity of an MGA with respect to risks located in Indiana for an insurer licensed in Indiana unless that person is a licensed producer in Indiana.

(b)A person, a firm, an association, or a corporation may not act in the capacity of an MGA representing an insurer domiciled in Indiana with respect to risks located outside Indiana unless that person is licensed as a producer in Indiana pursuant to the provisions of this chapter. For the purposes of this subsection, a person is licensed as a producer in Indiana if that person holds a nonresident license.

(c)The commissioner may require a bond in an amount determined by the commissioner for the protection of the insurer.

(d)The commissioner may require an MGA to main

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(a) A person, a firm, an association, or a
corporation may not act in the capacity of an MGA with respect to risks
located in Indiana for an insurer licensed in Indiana unless that person
is a licensed producer in Indiana.
(b) A person, a firm, an association, or a corporation may not act in
the capacity of an MGA representing an insurer domiciled in Indiana
with respect to risks located outside Indiana unless that person is
licensed as a producer in Indiana pursuant to the provisions of this
chapter. For the purposes of this subsection, a person is licensed as a
producer in Indiana if that person holds a nonresident license.
(c) The commissioner may require a bond in an amount determined
by the commissioner for the protection of the insurer.
(d) The commissioner may require an MGA to maintain an errors
and omissions policy.